MercadoLibre, Inc. $MELI Shares Sold by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System reduced its MercadoLibre stake by 1.7% in the first quarter, selling 1,145 shares and retaining 68,019 shares valued at approximately $117.6 million. Institutional investors collectively own 87.62% of the company.
• Analysts maintain a broadly positive outlook, with MercadoLibre receiving a consensus “Moderate Buy” rating and an average price target of $2,258.67, despite several recent target-price cuts.
• MercadoLibre’s latest quarterly revenue rose 49% year over year to $8.85 billion, beating estimates, while EPS of $8.23 fell short of the $8.75 consensus forecast.

California State Teachers Retirement System cut its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 1.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,019 shares of the company's stock after selling 1,145 shares during the quarter. California State Teachers Retirement System owned about 0.13% of MercadoLibre worth $117,606,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Interchange Capital Partners LLC raised its holdings in shares of MercadoLibre by 2.1% during the 4th quarter. Interchange Capital Partners LLC now owns 243 shares of the company's stock valued at $490,000 after buying an additional 5 shares during the period. Cornerstone Select Advisors LLC boosted its holdings in MercadoLibre by 2.9% in the 4th quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company's stock worth $355,000 after acquiring an additional 5 shares during the period. Mitchell Capital Management Co. grew its stake in shares of MercadoLibre by 0.4% during the fourth quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company's stock valued at $2,542,000 after acquiring an additional 5 shares in the last quarter. Strategic Advisors LLC grew its stake in MercadoLibre by 0.4% during the 4th quarter. Strategic Advisors LLC now owns 1,273 shares of the company's stock valued at $2,564,000 after purchasing an additional 5 shares in the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC raised its position in shares of MercadoLibre by 2.0% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company's stock valued at $605,000 after purchasing an additional 5 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

Insider Transactions at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were purchased at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the transaction, the director directly owned 5,355 shares in the company, valued at $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. UBS Group dropped their target price on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a "neutral" rating for the company in a research report on Wednesday, May 13th. Jefferies Financial Group raised MercadoLibre from a "hold" rating to a "buy" rating and dropped their price target for the company from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. Barclays decreased their price objective on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an "overweight" rating for the company in a report on Monday, May 11th. Morgan Stanley dropped their target price on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an "overweight" rating on the stock in a report on Monday, May 11th. Finally, Raymond James Financial set a $2,000.00 price target on shares of MercadoLibre in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, MercadoLibre has a consensus rating of "Moderate Buy" and an average price target of $2,258.67.

MercadoLibre Trading Up 0.0%

Shares of NASDAQ:MELI opened at $1,863.31 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. The company's 50-day moving average price is $1,720.22 and its 200 day moving average price is $1,806.54. The company has a market cap of $94.47 billion, a PE ratio of 49.18, a P/E/G ratio of 1.15 and a beta of 1.35. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing the consensus estimate of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The firm had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter last year, the company posted $9.74 EPS. MercadoLibre's revenue for the quarter was up 49.0% on a year-over-year basis. Sell-side analysts anticipate that MercadoLibre, Inc. will post 41 earnings per share for the current year.

MercadoLibre Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.

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